Selling a luxury home typically comes with some stress. But it’s possible to minimize stress by working with a good real estate team that helps you navigate the emotional landmines and avoid manipulative buyers.
According to a recent piece by quickenloans.com, just because it’s seller’s market does not mean you won’t interact with finicky buyers. By knowing the best questions to ask when selling your luxury property, it opens up a fruitful dialogue with your real estate agent.
Also, you go into the home selling process feeling more empowered and less apprehensive. Because it’s a seller’s market, avoid the nit-picky or high-maintenance buyers with unrealistic expectations.
Consider a few tips on how to sell luxury real estate.
Who is the best bidder?
In a bidding situation, don’t automatically choose the highest bidder. Some questions to ask when looking at offers include:
- What are the seller concessions?
- Is the buyer offer cash?
- What kind of financing does the buyer have?
- When does the buyer want to settle?
Also, compare the bids based on inspection requests, inclusions and counteroffers.
One thing to ignore is any emotional pleas or so-called ‘love letters’ from the buyer about why their family would perfectly fit your former home. Selling a home is a business transaction.
Reserve your empathy for worthwhile charities when involved in the business of selling your home. For most people, money from a home sale goes toward the purchase of a new home.
In some cases, the proceeds from a sale are retirement money or inheritance for loved ones.
What Are Homes Like in the Area?
When listing your home, take a tour of homes in the neighborhood to find out what kind of layout, features, size and design styles your neighbors have in comparison.
Also, check out homes that sold in the last three to nine months. Your real estate agent knows the sales patterns in your particular neighborhood.
Ask your real estate agent how your home compared in terms of features, upgrades, and amenities.
Consider upgrading to more energy-efficient appliances and making key improvements if other homes have more curb appeal.
How Much Time Do We Have?
Some people are ‘motivated” sellers who want to move in a hurry. Other sellers take their time. Consider your timeline as it relates to buying another home, moving or handling financial matters.
Even if you have a lot of pressures to sell, don’t completely rush the process. Some real estate agents suggest leaving a home on the market for at least a few days before accepting an offer.
Others advise taking the first acceptable offer.
How to Sell Luxury Real Estate Easily
Don’t volunteer to take on more problems and stress by trying to sell a home on your own. A real estate agent shows your home, markets it and handles all the showings.
By going out to eat or visiting friends during a showing, you avoid some of the emotional angst that comes when hearing uncensored opinions.
Ask your real estate agent for constructive criticism from potential buyers so you know what kind of small changes and improvements you can make without spending repairs.
To find out more about how to sell luxury real estate, please contact us.